Rio Tinto chief executive Sam Walsh will retire from the business on 1 July 2016 and will be succeeded by Copper & Coal chief executive Jean-Sébastien Jacques. Rio noted that in order to ensure a smooth transition, Jean-Sébastien, will join the board and become deputy chief executive with immediate effect. During more than three years on Rio Tinto’s executive committee, Jean-Sébastien has brought greater focus to the copper and the coal businesses. He has delivered a step-change in both safety and cash performance while significantly reducing costs. Prior to joining Rio Tinto, Jean-Sébastien worked for more than 15 years across…
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Twenty SMEs, start-ups and young innovators will be given the once-in-a-lifetime opportunity to showcase their new development or invention for the power and water industry at the Innovation Hub taking place during the upcoming African Utility Week in Cape Town from 17-19 May. “Innovation and entrepreneurship form the lifeblood of any economy and the energy and water sectors need this more than ever,” said Evan Schiff, African Utility Week event director, adding. He added that their Innovation Hub will gather the brightest minds and ideas and partner them with the right people to take their projects to the next level…
Rapaport Auctions, the leading recycler of diamonds in the world, closed its auction recently at the Hong Kong show achieving $12M for over 80,000 carats. The auction consisted of hundreds of parcels of recycled and finely assorted premium quality diamond parcels in all shapes, qualities and sizes. The diamonds were sourced from retailers, pawnshops and refineries from around the world. “We are very pleased with the results achieved at our auction as it confirms steady demand for smaller size commercial quality natural diamonds. Melee prices have firmed over the past few months fueled by shortages following a sharp 50% reduction…
Stanbic Bank has launched a state of the art, fully equipped Mobile Branch—which is the first of its kind in the local market. It comes as part of the Bank’s drive to allow easy accessibility and convenience to banking services, whilst also allowing for greater financial inclusion and customer experience. The Mobile Branch can be used as a fully operational branch offering: cash deposits, cash withdrawals, cheque deposit and encashment, account enquiries, account opening, transfers and issuing of cards. It can also be used as a standalone ATM offering cash withdrawals, and Instant Money redemption. The Mobile Branch will provide…
Botswana government says there are no exclusive rights holders to filming in the Savuti area located in the Chobe National Park and advised anyone willing to film and photography research there to apply for permission. In a notice through the Ministry of Environment, Wildlife and Tourism, it was revealed that the only time that filming and research permits are not issued is when there are too many approved applications for one area. “The Ministry of Environment, Wildlife and Tourism wishes to advise the public that Environmental Research, Filming and Photography permits for Savuti located in the Chobe National Park are…
London Stock Exchange-listed Gem Diamonds said it had scaled down operations at its Botswana mining operation in response to unfavourable diamond market. The company said in a commentary and 2015 annual report accompanying latest financial results that the depressed market has impacted the prices achieved for the Ghaghoo production. The mine is located in the controversial Central Kalahari Game Reserve (CKGR). “Consequently, in the current climate, and after reviewing various options, it was considered prudent to downsize the operation for 2016 to reduce cash consumed during its final development,” Roger Davis, Gem Diamond’s Non-Executive Chairman said. “It is important to…
The Botswana Telecommunications Corporation Limited (BTCL) says its Initial Public Offer (IPO) drew attention of locals and with the record number of offers it will make it account to the largest number of shareholders on the local bourse when it becomes a public company from April 8, 2016. The parastatal, which is a bellwether to the privatisation of state-owned companies, closed the IPO with the count of submissions made by Batswana in excess of 40,000 offers and proceeds exceeding P400 million. Chief Executive Officer of the Public Enterprises Evaluation and Privatisation Agency (PEEPA), Kgotla Ramaphane said the numbers are…
The Diamond Producers Association (DPA) has announced that Sally Morrison, Managing Director of Marketing, will leave the organisation in May to pursue another professional opportunity. To ensure continuity of momentum in the DPA’s US marketing activities, Michael Pace will join the organisation at the end of March as Interim Managing Director of Marketing, until a permanent replacement to Sally has been identified. Michael brings a wealth of experience in luxury and consumer marketing, having spent 13 years with the World Gold Council, following roles at Diageo and Unilever. He will report to Jean-Marc Lieberherr, Chief Executive of the DPA, and…
The Botswana Investment and Trade Centre (BITC) will donate a number of items to the elderly community in the northern part of the country. The investment promotion agency said they always endevour to embark on charitable projects that uplift the lives of Batswana through their Corporate Social Investment (CSI) programme. “BITC supports and aims to improve the lives of our elderly communities who have been instrumental in building our nation,” said the organisation headed by Letsebe Sejoe. “BITC identified a need in North East District through a fact finding mission to support the elderly….”. Following the mission, BITC has committed…
Deloitte Botswana, the local arm of the global professional services and consulting firm, is set to host renowned Futurist, Doug Vining, in Gaborone. He will be hosted as a keynote speaker at a celebratory engagement for key stakeholders and clients of Deloitte on Thursday, 17 March 2016. The engagement, hosted by the Partners of Deloitte Botswana, is set to welcome Executive members of Deloitte Africa and key captains of industry. Deloitte Country Managing Partner, Max Marinelli said they are humbled to have had a presence for over 42 years in Botswana, working to help shape communities and the economy of…